Crypto Market Cap Gains $15 Billion as Bitcoin Price Touches $14,100 (Market Watch)

Bitcoin’s roller-coaster continued in the past 24 hours with significant fluctuations resulting in a few $500 moves and it finally breaking the previous 2019 high. The altcoins have taken a breather with some green charted, and the market capitalization has increased by around $15 billion.

Bitcoin Goes On A Wild 24H Ride

It’s safe to say that Bitcoin’s dull days are behind the cryptocurrency. As CryptoPotato reported yesterday, ECB’s announcement drove the asset to nearly $13,700 before losing about $450 rather rapidly.

The price drop resulted in BTC’s intraday low of about $13,150. Since then, though, the primary cryptocurrency has been gradually increasing.

Just a few hours ago, this materialized in a daily high of about $14,100 on Binance, which is a price point that we haven’t seen since January 2018. Since then the cryptocurrency retraced to about $13,900 where it currently trades. It’s interesting to see whether BTC will be able to keep up with its bullish momentum.

btcusd_chartBTC/USD. Source: TradingView

In any case, Bitcoin’s dominance also increased slightly to where it’s currently sitting at 63.7%. This shows that altcoins have still been unable to break serious grounds, though most of them are in green dollar-wise.

A Breath Of Fresh Green For The Altcoins

The alternative coins didn’t enjoy the past few days. However, most have been recovering since yesterday.

Ethereum managed to sustain its price above $380 yesterday, and a 4% increase has driven it near $392. Ripple (2.1%), Binance Coin (1.6%), Chainlink (3.7%), Polkadot (5%), Cardano (2.6%), and Litecoin (5%) are also in the green.

heatmapt_overviewCryptocurrency Market Heatmap. Source: Quantify Crypto

As it typically happens, more fluctuations are evident among lower and mid-cap altcoins. Blockstack leads the way with a 17% price jump, and ABBC Coin follows with a 16% increase.

Ren (11%), Ocean Protocol (10.5%), Yearn.Finance (10%), and Reserve Rights (10%) are the other representatives of the double-digit price pump club.

Overall, the total market capitalization has increased from yesterday’s low of $390 billion to $405 billion.

Publication date: 
10/31/2020 - 14:14

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